Bitcoin rally gains steam as $100K comes into view again
Bitcoin is having a moment again. The world’s most famous cryptocurrency surged to $96,400 this week — its highest level since February — rekindling hopes of another run at the $100,000 milestone.
According to eToro analyst Simon Peters, the breakout was likely. “After consolidating around the $95,000 mark for the last week, Bitcoin is breaking out today and is targeting the $100,000 level again,” he said, adding that the move follows a classic pattern of consolidation and follow-through seen after major rallies.
The current price places Bitcoin just under 15% from its all-time high of $109,400, and investors are beginning to bet that the next big move could finally take the crypto king into six-digit territory.
ETFs and institutions are driving demand
Fueling this surge is a powerful mix of institutional interest and heavy inflows into spot Bitcoin exchange-traded funds (ETFs). These vehicles — once considered a regulatory pipe dream — have brought new levels of mainstream credibility and access to Bitcoin, attracting billions in fresh capital.
On April 22, ETFs saw some of the largest single-day inflows to date, which analysts say laid the groundwork for this latest price momentum.
Meanwhile, inflation concerns and ongoing speculation around interest rates are prompting a broader shift among investors toward alternative stores of value — and Bitcoin is back in that conversation.
Macro trends and halving hype add momentum
Bitcoin isn’t just getting a boost from big money. It’s also riding a wave of macroeconomic narratives.
With inflation stubbornly high and central banks facing limited room to maneuver, many are looking beyond traditional assets for protection. At the same time, the countdown is on for the next Bitcoin “halving” — a pre-programmed event that reduces BTC mining rewards and historically leads to higher prices.
Crypto infrastructure is also maturing, with improved on-ramps for retail investors, better custody solutions for institutions, and greater regulatory clarity in major markets.
All of this is adding layers of support beneath the current rally.
$100K is psychological — but powerful
For long-time Bitcoin watchers, $100,000 has always been more than just a number — it’s a psychological milestone that represents legitimacy, maturity, and mainstream status.
While short-term volatility remains likely (this is Bitcoin, after all), sentiment is now firmly bullish. And with the momentum building across both technical and fundamental fronts, many are starting to believe that this time might just be different.
Still, as always with crypto, the path won’t be straight. But right now, the trajectory is clear — and upward.